Ripping a CD is as easy as inserting a CD, selecting the tracks you want, then clicking the Encode button in the toolbar. The default settings will rip your CD using error correction then output ~190 kbps variable bit rate (VBR) MP3 files to your ~/Music folder.
If you are connected to the internet, then you can also click the FreeDB button before you encode to access the FreeDB service which will provide Max with the proper information to tag your encoded music files.